Citigroup Inc. Raises RPC Inc. (RES) Price Target to $19.00
A number of other analysts have also weighed in on RES. GMP Securities upgraded RPC from a reduce rating to a hold rating in a research note on Thursday, July 28th. Nomura set a $14.00 target price on RPC and gave the company a hold rating in a research note on Tuesday, August 16th. Finally, Seaport Global Securities upgraded RPC from a reduce rating to a neutral rating and raised their target price for the company from $14.00 to $17.00 in a research note on Tuesday, October 4th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. RPC currently has an average rating of Hold and a consensus target price of $14.87.
RPC (NYSE:RES) opened at 18.47 on Tuesday. The firm’s market cap is $4.02 billion. RPC has a one year low of $9.73 and a one year high of $18.61. The stock has a 50 day moving average price of $16.00 and a 200-day moving average price of $15.07.
RPC (NYSE:RES) last announced its earnings results on Wednesday, July 27th. The company reported ($0.23) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.23). RPC had a negative return on equity of 16.53% and a negative net margin of 17.29%. The company earned $143 million during the quarter, compared to analyst estimates of $149.41 million. During the same period last year, the company posted ($0.16) earnings per share. The firm’s quarterly revenue was down 51.9% compared to the same quarter last year. Analysts predict that RPC will post ($0.77) EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its position in shares of RPC by 68.0% in the first quarter. Goldman Sachs Group Inc. now owns 156,272 shares of the company’s stock worth $2,216,000 after buying an additional 63,275 shares during the period. TIAA CREF Investment Management LLC boosted its position in shares of RPC by 101.0% in the first quarter. TIAA CREF Investment Management LLC now owns 2,617,252 shares of the company’s stock worth $37,113,000 after buying an additional 1,314,979 shares during the period. Granahan Investment Management Inc. MA boosted its position in shares of RPC by 2.4% in the first quarter. Granahan Investment Management Inc. MA now owns 319,750 shares of the company’s stock worth $4,534,000 after buying an additional 7,500 shares during the period. Riverhead Capital Management LLC bought a new position in shares of RPC during the first quarter worth about $643,000. Finally, Loomis Sayles & Co. L P boosted its position in shares of RPC by 118.4% in the first quarter. Loomis Sayles & Co. L P now owns 1,106,000 shares of the company’s stock worth $15,683,000 after buying an additional 599,612 shares during the period. Hedge funds and other institutional investors own 34.92% of the company’s stock.
RPC, Inc (RPC) is a holding company for several oilfield services companies. The Company provides a range of specialized oilfield services and equipment to oil and gas companies engaged in the exploration, production and development of oil and gas properties across the United States, including the southwest, mid-continent, Gulf of Mexico, Rocky Mountain and Appalachian regions, and in selected international markets.
Receive News & Ratings for RPC Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RPC Inc. and related companies with MarketBeat.com's FREE daily email newsletter.